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Tata Group Stock: Thursday was a very special day for the Tata Group. Indeed, after 18 years, Tata Company has entered the stock market. The name of this company is Tata Technologies Limited. Before this, Tata Group’s last IPO was Tata Consultancy Services (TCS). Listed in 2004, this IPO has returned investors 400 percent or more of its issue price. However, the company has also distributed bonus shares and dividends after the listing. Due to this, the number of shares has increased and the price has also decreased.
What was the price band?
Tata Consultancy Services’ price band was ₹775-₹900. The company’s shares were listed at ₹1076 on 25 August 2004, a 26.6 percent premium. From August 25, 2004 to 2023, TCS has issued bonus shares twice in the ratio of 1:1. At the same time, dividends have been distributed more than 15 times.
This IPO caused a shock to the listing, investors suffered huge losses on the first day, now there is a rush to sell shares.
Tata Technologies Listing
Tata Technologies Limited IPO on National Stock Exchange at Rs. 500 was listed at a premium of 140 per cent to the issue price. Due to this IPO was listed at 1200 rupees. At the same time, it traded on the BSE at a premium of 140 percent to Rs. 1199.95 was listed. During trading, the share price touched Rs 1400, which is 180 percent higher than the issue price. The company’s IPO was oversubscribed 69.43 times on the last day of the issue, i.e. last Friday. Tata Technologies’ IPO was fully subscribed within minutes of opening on Wednesday. For this, the issue price of Rs 475-500 per share was fixed.